"Dr. Ryan's options shall vest in full if within 18 months, SulphCo,
Inc. (the "Company") receives either: (a) a firm customer order(s) for
the installation of Sonocracking equipment having a MINIMUM processing
capacity of 1,000,000 barrels PER DAY and the customer is contractually
obligated to pay,
-or, the Company reasonably expects to receive, at least $1 per barrel
per day of gross margin for a minimum term of one year, or (b) firm
customer order(s) in such greater or lesser amount where the customer
is contractually obligated to pay, or the Company reasonably expects to
receive an aggregate annual revenue equivalent to item (a) ($350
million). Gross margin shall mean the net operating profit, net of all
operating expenses, including without limitation repairs and
replacements (including probe replacements), labor, on-site
supervision, energy and utilities, catalysts or additives, local taxes
or duties (excluding income taxes) and distributor's fees"
_____________________________________________________ _______________
Ryan needs this scenario to materialize to vest the options, so you can
assume he's plenty motivated- So, what would that mean to we common
shareholders?
